In America, wind energy could soon be enough to supply 10% of the USA’s demand in energy, by 2020. According to the American Wind Energy Association (AWEA) this could be achieved if technology advancement to reduce cost of energy is pursued. “We’ve built an American success story that creates jobs, cuts carbon pollution, and cuts costs for American consumers. To continue this success by...

In Kenya, the government just imported 5,000 tons of sugar in order to mitigate the fall in price of the commodity as stocks of local refineries decreased. 4,000 tons of sugar is stored across the country. This is half the minimum level required, knowingly 8,000 tons. According to the director general of the Agriculture, food and fishery authority, Alfred Busolo, these imports are a mitigation...

Technip has signed a letter of intention which grants the company an initial contract worth over $500 million to reconstruct the Bahr Essalam, Phase II development in the Central Mediterranean Sea. Operated by Mellitah Oil & Gas Libyan Branch, a consortium between National Oil Corporation and Eni North Africa, the natural gas field development, will be connected to the Sabratha...

USAID and Standard Chartered Bank have developed’ a partnership to lend $60 million to Zambia’s state-owned power utility Zesco which produces and provides nearly 80% of Zambia’s power. The loan is one of the largest facilities ever provided to a state-owned company in Zambia. The loan will be used to finance capital expenditures associated with the rehabilitation of Zesco’s...

Speaking during the radio program l’Expresso aired by Express FM, the Tunisian minister of Information and Communication Technologies, Noômane Fehri, said on May 30, 2016, that Tunisie Telecom would soon be listed on the Tunis stock market. The minister highlighted that only the 65% stake held by the government will be introduced in the bourse. However, the government will still hold majority...

Algerian firm Amimer Energie has signed with Chadian firm 3A Energie a $116 million contract for the construction, in Chad, of a 30 MW solar-hybrid power plant. The two firms also plan to establish a mixt company which was subject to another agreement, this one exceeding $5 million. The third entity will insure interconnection and electric network’s development in five Chadian...

In contrast with some European banks that decided to reduce their assets in Africa, Standard Chartered has decided to boost its presence on the continent. The bank which is one of UK’s 30 biggest stock capitalizations just revealed its intention to launch its mobile and online banking platform in eight African nations.   The service will be launched for StanChart’s million customers in...

Quite optimistic, the African Development Bank (AfDB) said Africa will be more resilient to external shocks than in the 1990s. “Clearly the increase in debt coupled with serious budget deficits are putting a lot of pressure on African countries, but we don’t think it is going to put us back into the pre-HIPC type of era,” AfDB’s vice-president Charles Boamah told reuters. This seems to...

Indian car manufacturer Mahindra & Mahindra has commissioned on May 27, a business center in Nairobi, Kenya, in order to better serve East and Central Africa. The center will serve as distribution canal for the group’s products, including agricultural equipment, utility vehicles, private cars, power generators and equipment used in the agro-industry. “Our new center is an investment...

Victoria Oil & Gas has announced that its first profit as revenues from its Logbaba field in Cameroon for the seven-month period ended December 31, increased extremely as it is planning to boost its reserves and produce more gas in the country. Initial results for the seven months were $1.63 million, while revenues increased to $21.4mln. The company has changed its end of the year...